A B S T R A C TA simple and accurate traveltime approximation is important in many applications in seismic data processing, inversion and modelling stages. Generalized moveout approximation is an explicit equation that approximates reflection traveltimes in general two-dimensional models. Definition of its five parameters can be done from properties of finite offset rays, for general models, or by explicit calculation from model properties, for specific models. Two versions of classical finite-offset parameterization for this approximation use traveltime and traveltime derivatives of two rays to define five parameters, which makes them asymmetrical. Using a third ray, we propose a balance between the number of rays and the order of traveltime derivatives. Our tests using different models also show the higher accuracy of the proposed method. For acoustic transversely isotropic media with a vertical symmetry axis, we calculate a new moveout approximation in the generalized moveout approximation functional form, which is explicitly defined by three independent parameters of zero-offset twoway time, normal moveout velocity and anellipticity parameter. Our test shows that the maximum error of the proposed transversely isotropic moveout approximation is about 1/6 to 1/8 of that of the moveout approximation that had been reported as the most accurate approximation in these media. The higher accuracy is the result of a novel parameterization that do not add any computational complexity. We show a simple example of its application on synthetic seismic data.with a limited number of independent parameters has been the subject of a large amount of research. Shifted hyperbola approximation (Malovichko 1978;de Bazelaire 1988), rational approximation (Tsvankin and Thomsen 1994; Alkhalifah and Tsvankin 1995) and generalized moveout approximation (GMA; Fomel and Stovas 2010; Stovas 2010; Stovas and Fomel 2017) are more commonly employed, because of their simplicity, applicability or higher accuracy. Other known explicit moveout approximations include methods of Alkhalifah